Rothbard on War, Peace, and the State

S&P Slashes New Orleans' Credit Rating On "Structurally Imbalanced Operations" New Orleans, home to Mardi Gras and muffulettas, has been governed by Democrats for decades, so it should come as little surprise that S&P Global Ratings has slashed the city's obligation rating to the third-lowest level of investment grade and placed it on a negative outlook. S&P Global Ratings cut New Orleans' general obligation rating by one notch to BBB+ with a negative outlook, citing structurally imbalanced finances, shrinking reserves, and growing reliance on one-time desperate measures to meet cash needs. "The...

The Federal Reserve continues to destroy the economy’s savings base through a combination of artificially low interest rates and inflation. This war on savings will not end anytime soon.

UN Maritime Agency Initiates Plan To Clear Hormuz Traffic: Hundreds Of Vessels, 11K Sailors The Strait of Hormuz is supposed to be 'open' now, based on the MoU framework, though things are expected to be extremely slow moving, despite signs of life in terms of an increased transit flow becoming evident only this week. The saga of just how hundreds of ships will traverse is developing and tenuous: "The UN's International Maritime Organization says it will begin evacuating more than 11,000 sailors stranded in the Gulf due to the Middle East war," per AFP. via...